SAMA: Non-Saudis transfer SR122.7 bln in 10 months, ‎Saudi ‎transfers up 13.9% in October ‎

Data from the Saudi Central Bank revealed that non-Saudis transferred SR 122.7 billion during the ten months of 2022, a decrease of SR 7.1 billion, or 5.5% compared to their remittances in same period of the previous year 2021, which was SR 129.8 billion.

Non-Saudis transfers declined by 16.6% or SR 2235 million during October compared their transfers which amounted to SR 13.5 billion during the same month of the previous year, while their transfers declined 0.8% compared to September 2022 when it recorded SR 11.3 billion.

On the one hand, Saudi transfers rose to SR 5.9 billion during September 2022, or 7.8%, compared to their transfers of the same month of the previous year, which were SR 5.5 billion, while they soared by 13.9%, compared to transfers in August 2022 of which was SR 5.2 billion.

According to the Central Bank Monthly Statistical Bulletin for October 2022, local banks sold about SR 56.3 billion during last October, which were converted into foreign exchange for other customers inside the Kingdom, a decrease of SR 3.8 billion from what was sold in the previous month of September, which amounted to about SR 60 billion, while it dipped by 44.7% or about SR 45.4 billion for foreign exchange sales in October 2021 which were SR 101.8 billion.